Page 89 - Pay'n Save Retirement Truat fund
P. 89
87 | SOUND RETIREMENT
DEATH BENEFITS
If You are Married
As described under “If You Are Married,” beginning on page 38,
your surviving spouse will receive a death benefit equal to what
he or she would have received had you retired at the later of your
age at death or age 55 and selected the 50% spouse annuity.
One-half of your June 30, 2014 pension benefit under the Meat
Plan (determined using the Meat Plan’s actuarial factors for the
50% spouse annuity) will serve as a minimum death benefit for
your surviving spouse.
If You are Not Married
If you die, no death benefits will be paid.
REEMPLOYMENT AFTER RETIREMENT
If you retire and later return to work, under certain circumstances
your monthly payments will be suspended. Generally, the Sound
Plan rules described on page 49 will apply to your service after
June 30, 1982, except that the portion of your monthly benefit
based your Meat Plan service from July 1, 1982 through June 30,
2014 will not be suspended during the first two months of each
Meat Plan Year (July 1 to June 30) no matter how many hours you
work in those two months. Your Meat Plan benefits earned as of
June 30, 1982 will not be suspended.
QUESTIONS AND ANSWERS
Is my eligibility No. In either case you will earn benefits under the
affected if I transfer provisions of the Sound Plan, provided your transfer
from a position as occurred on or after July 1, 2014. The only difference
a Meat employee to will be to the regular pension amount you earn and
one as a Clerks or your eligibility for disability, as described in this
Drug employee? Appendix D.
If your transfer occurred before July 1, 2014, you
are subject to the rules of the Sound Plan (or Drug
Plan if prior to October 1, 2008) in effect at the time
of your transfer. If this applies to you, contact the
Administrative Office for details.